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MY Stock 118 KLSE News & Tips

Wednesday, October 11th, 2017

PETALING JAYA: Key Asic Bhd, whose share price jumped 63.64% today, explained that it is in the midst of undertaking a corporate exercise even without being queried by Bursa Malaysia.

In a filing with the stock exchange, the company said the relevant details of the corporate exercise have not been finalised yet, and it will make the necessary announcements if it decides to proceed with the exercise.

The company’s share price rose 10.5 sen to close at 27 sen today with a total of 248.78 million shares changing hands, making it the most active stock. Its market capitalisation stood at RM240.39 million.

Key Asic is involved in the design and manufacturing of Internet of Things chips and systems.

FRANKFURT, Oct 11 — Lufthansa is poised to agree a deal to buy assets of Air Berlin, a person familiar with the matter told Reuters ahead of a Thursday deadline for talks to carve up the insolvent German airline. “The deal with Lufthansa is…

KUALA LUMPUR: The Federal Land Development Authority’s (Felda) new biogas plants under waste-to-energy project at its four mills are expected to be ready for commissioning by October 2018, said new energy player, Concord Green Energy Sdn Bhd (CGE).

CGE managing director/CEO, Datuk Khairuddin Mohd Hussin, said the plants, two in Pahang and two in Johor, were capable of generating 5.6 megawatts (MW) of electricity power from palm oil mill effluent discharged by the palm oil mills.

“We can now convert the waste from Felda’s palm oil mills to generate electricity.

“The excess electricity generated from the units will be sold and injected into the national grid, with revenue to be shared at a mutually-agreed ratio,” he told reporters after signing a contract with Dana Engineering Sdn Bhd for the supply of six Jenbacher gas engines produced by General Electric (GE) to CGE for the biogas projects today.

CGE was appointed by Felda Global Ventures Holdings Bhd (FGV) to build, operate and maintain 14 biogas sites or plants complete with power generation facilities at the latter’s selected palm oil mills for a period of 16 years.

Last year, CGE signed an agreement with FGV to immediately start construction work on four greenfield mills under Phase One of the “Mill Specific Build, Operate, and Own” agreement where the GE’s Jenbacher gas engines will be located.

KUALA LUMPUR: The Federal Land Development Authority’s (Felda) new biogas plants under waste-to-energy project at its four mills are expected to be ready for commissioning by October 2018, said new energy player, Concord Green Energy Sdn Bhd (CGE).

CGE managing director/CEO, Datuk Khairuddin Mohd Hussin, said the plants, two in Pahang and two in Johor, were capable of generating 5.6 megawatts (MW) of electricity power from palm oil mill effluent discharged by the palm oil mills.

“We can now convert the waste from Felda’s palm oil mills to generate electricity.

“The excess electricity generated from the units will be sold and injected into the national grid, with revenue to be shared at a mutually-agreed ratio,” he told reporters after signing a contract with Dana Engineering Sdn Bhd for the supply of six Jenbacher gas engines produced by General Electric (GE) to CGE for the biogas projects today.

CGE was appointed by Felda Global Ventures Holdings Bhd (FGV) to build, operate and maintain 14 biogas sites or plants complete with power generation facilities at the latter’s selected palm oil mills for a period of 16 years.

Last year, CGE signed an agreement with FGV to immediately start construction work on four greenfield mills under Phase One of the “Mill Specific Build, Operate, and Own” agreement where the GE’s Jenbacher gas engines will be located.

In a statement today, TNB said its subsidiary TNB Repair And Maintenance Sdn Bhd (TNB Remaco) had signed a term sheet agreement with Negeri Sembilan Cement Industries Sdn Bhd (NSCI) to generate electricity from waste heat from NSCI’s plants on a build, own, maintain and transfer basis.

Under the term sheet agreement, TNB Remaco will develop, design, construct, commission, operate, maintain and raise financing for the waste heat recovery power plant.

The power plant will have a combined power generation capability of 23 Megawatts by recovering the exhausted waste heat from the cement plants in Bahau, Negri Sembilan and Bukit Keteri, Perlis.

TNB said the project will have an estimated total value of RM200 million with a capability of reducing up to 9%–12% of NSCI’s electricity cost.

The project will contribute towards green energy and energy efficiency through the reduction of carbon emissions as well as competitive advantage through energy cost savings for NSCI cement plants.

TNB Remaco’s venture into the waste heat recovery development will provide new business opportunities in promoting energy efficiency, green-technology and sustainable long-term energy solution.

TNB shares slid four sen or 0.28% to RM14.20 today with 3.39 million shares traded.

The rights issue entailed the issuance of 52.9 million RCPS of 95 sen each. Together with the total valid acceptances and excess rights, EG Industries received applications for 66.7 million RCPS worth RM63.4 million, representing an oversubscription of 26.1 times.

At an issue price of 95 sen per RCPS, the corporate exercise raised RM50.2 million in proceeds, which will be utilised primarily for business expansion.

“The proceeds will facilitate our continued growth in the EMS sector by acquiring more machinery to expand capacity for the second factory in Sungai Petani, enhancing our research and development capabilities, and granting us more working capital to reinforce our objective to be a strong partner for international customers,” EG Industries group CEO and executive director Alex Kang said in a statement.

The one-for-four rights issue with bonus issue will eventually increase the group’s total outstanding shares to 386.3 million, from 211.6 million as at June 30, 2016.

PETALING JAYA: Zhulian Corp Bhd’s net profit for the third quarter ended Aug 31, 2017 more than doubled to RM14.58 million from RM6.11 million a year ago due to better margins for some of its subsidiaries.

In a filing with Bursa Malaysia, the costume and jewellery manufacturer said the improved margin was in line with the increase in revenue and lower expenses incurred, as well as an increase in share of profit compared with a year ago.

Revenue for the quarter rose 13% to RM49.78 million from RM44.01 million a year ago mainly due to an increase of export revenue to Myanmar, offset by the drop in local demand.

For the nine months ended Aug 31, 2017, net profit almost doubled to RM41.33 million from RM21.13 million a year ago while revenue rose 5% to RM146.68 million from RM139.39 million a year ago.

Zhulian declared a third interim single tier dividend of 1.5 sen per share, totalling RM6.9 million with respect to financial year ending Nov 30, 2017, to be paid on Nov 24, 2017.

Moving forward, the company expects the business environment to remain challenging due to economic uncertainties and will continue efforts to revive the domestic market while exploring untapped markets within Asean.

It said that it is cautiously optimistic of its future prospects, based on plans to explore new opportunities by venturing into other business.

“We also look forward to improving the contribution from the MLM segments especially from our Thailand and Myanmar markets in order to drive growth momentum for overall Indochina market, once we materialise our plan to enter Cambodia and Laos market,” it said.

Its share price closed unchanged at RM1.64 today with a total of 49,300 shares traded, giving it a market capitalisation of RM754.40 million.

Both Lion Diversified and Lion Tin are controlled by steel tycoon Tan Sri William Cheng.

As per the contract to work agreement inked on Oct 11, Lion Tin will have the rights to extract and develop tin and other mineral deposits found either in or on the soil of earth or in the rocks beneath the soil, including but not limited to sand, silica, clay and amang.

Lion Tin on its sole discretion will also be able to sell and receive the sale proceeds of the minerals mined.

Lion Diversified said the contract award will allow the group to realise potential earnings from mining activities without incurring material operational and capital costs as Lion Tin is responsible for bearing such costs to extract the minerals.

The proposed time frame for Lion Tin to undertake mining activities is 10 years, with an additional extension of five years.

The contract is expected to contribute positively to Lion Diversified’s future earnings.

Its shares dropped 10% to close at 4.5 sen with some 101,000 shares changing hands.

On May 12, 2017, Ancom announced that its indirect wholly owned subsidiary Puncak Berlian Sdn Bhd had entered into a preliminary agreement with PT Alternatif Media Group, PTAP and Thailand’s VGI Global Media Public Company Ltd to establish an operational cooperation consortium in order to secure the tender of consulting services and the provision of advertising media with MRT Jakarta.

Members of the consortium are bound by a preliminary agreement entered into on May 11.

“The winning of the bid by the consortium is of commercial benefit for the media division of Ancom, i.e. Redberry Group, to further expand its media business into the Southeast Asian region.

The bid is expected to have significant future earnings to the media division of Ancom,” the board said.

MRT Jakarta Phase 1 will commence its commercial operation in March 2019.

Ancom’s shares fell 1.38% to close at 71.5 sen with some 396,700 shares traded.